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Business is the practice of making one's living or making money by producing or buying and selling products (such as goods and services). It is also "any activity or enterprise entered into for profit."

A business entity is not necessarily separate from the owner and the creditors can hold the owner liable for debts the business has acquired. The taxation system for businesses is different from that of the corporates. A business structure does not allow for corporate tax rates. The proprietor is personally taxed on all income from the business.

A distinction is made in law and public offices between the term business and a company such as a corporation or cooperative. Colloquially, the terms are used interchangeably. (Full article...)

Economics (/ˌɛkəˈnɒmɪks, ˌiːkə-/) is a social science that studies the production, distribution, and consumption of goods and services.

Economics focuses on the behaviour and interactions of economic agents and how economies work. Microeconomics analyses what is viewed as basic elements in the economy, including individual agents and markets, their interactions, and the outcomes of interactions. Individual agents may include, for example, households, firms, buyers, and sellers. Macroeconomics analyses the economy as a system where production, distribution, consumption, savings, and investment expenditure interact, and factors affecting it: factors of production, such as labour, capital, land, and enterprise, inflation, economic growth, and public policies that have impact on these elements. (Full article...)

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The Doha Development Round is the current trade-negotiation round of the World Trade Organization (WTO) which commenced at Doha, Qatar in November 2001. Its objective is to lower trade barriers around the world, permitting free trade between countries of varying prosperity. As of 2008, talks have stalled over a divide on major issues, such as agriculture, industrial tariffs and non-tariff barriers, services, and trade remedies.The most significant differences are between developed nations led by the European Union (EU), the United States (USA) and Japan and the major developing countries led and represented mainly by India, Brazil, China and South Africa. There is also considerable contention against and between the EU and the USA over their maintenance of agricultural subsidies—seen to operate effectively as trade barriers.

The Doha Round began with a ministerial-level meeting in Doha, Qatar in 2001. Subsequent ministerial meetings took place in Cancún, Mexico (2003), and Hong Kong (2005). Related negotiations took place in Geneva, Switzerland (2004, 2006, 2008); Paris, France (2005); and Potsdam, Germany (2007).

The most recent round of negotiations, July 23-29 2008, broke down after failing to reach a compromise on agricultural import rules.

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Photo credit: Lars Plougmann

Bribery around the world is estimated at about $1 trillion (£494bn). The burden of corruption falls disproportionately on the bottom billion people living in extreme poverty who cannot afford to pay and who thus receive sub-standard treatment from officials.

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The economy of New York City encompasses the largest municipal and regional economy in the United States. In 2022, the New York metropolitan area generated a gross metropolitan product (GMP) of US$1.4trillion, with a population of 23.6 million people. Anchored by Wall Street in Lower Manhattan, New York City has been characterized as the world's premier financial center. The city is home to the New York Stock Exchange (NYSE, on Wall Street) and Nasdaq (headquartered in Times Square), the world's two largest stock exchanges by both market capitalization and trading activity.

New York City, anchored by Manhattan, is the world's leading center of banking, finance, and communication. Many of the world's largest corporations are headquartered in Manhattan. The borough contained over 500 million square feet (46.5 million m²) of office space in 2015, making it the largest office market in the United States. Midtown Manhattan, with nearly 400 million square feet (37.2 million m²) that same year, is the largest central business district in the world. New York City is distinctive for its high concentrations of advanced service sector firms in the law, accountancy, banking, and management consultancy fields. It is the top global center for the advertising industry, which is metonymously called "Madison Avenue". Silicon Alley, metonymous for New York's broad-spectrum high technology sphere, continues to expand. (Full article...)

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" Until the latest of our world conflicts, the United States had no armaments industry. American makers of plowshares could, with time and as required, make swords as well. But now we can no longer risk emergency improvisation of national defense; we have been compelled to create a permanent armaments industry of vast proportions. Added to this, three and a half million men and women are directly engaged in the defense establishment. We annually spend on military security more than the net income of all United States corporations.

This conjunction of an immense military establishment and a large arms industry is new in the American experience. The total influence -- economic, political, even spiritual -- is felt in every city, every State house, every office of the Federal government. We recognize the imperative need for this development. Yet we must not fail to comprehend its grave implications. Our toil, resources and livelihood are all involved; so is the very structure of our society.

In the councils of government, we must guard against the acquisition of unwarranted influence, whether sought or unsought, by the military industrial complex. The potential for the disastrous rise of misplaced power exists and will persist.

We must never let the weight of this combination endanger our liberties or democratic processes. We should take nothing for granted. Only an alert and knowledgeable citizenry can compel the proper meshing of the huge industrial and military machinery of defense with our peaceful methods and goals, so that security and liberty may prosper together

Akin to, and largely responsible for the sweeping changes in our industrial-military posture, has been the technological revolution during recent decades.

In this revolution, research has become central; it also becomes more formalized, complex, and costly. A steadily increasing share is conducted for, by, or at the direction of, the Federal government."

—Dwight D. Eisenhower, Farewell Address, 1961

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Did you know (auto-generated) - load new batch

... that food was left to rot outside after the supermarket Supie went out of business?
... that East Lake Square, a failed shopping mall in Tampa, Florida, was converted into a business park known as NetPark Tampa Bay in 1999?
... that Svalbard Minute by Minute, a 221-hour-long television broadcast, is credited with increasing tourism in Svalbard by 25 percent?
... that Celine-Marie Pascale's work focuses on how race and class impact the way "business practices and government policies create, normalize and entrench economic struggles" to benefit the wealthy?
... that during the Venezuelan general strike of 2002–2003, all but one of Venezuelan chocolatier María Fernanda Di Giacobbe's ten businesses went bankrupt?
... that the Darwin Rocksitters Club had "no funny business" as their first, third, and fifth rules?

On this day in business history

June 10:

2012 - Sudono Salim, Chinese-Indonesian businessman, founder of Bank Central Asia, died on this day.

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General images

The following are images from various business-related articles on Wikipedia.

Image 1"Jack and the Giant Joint-Stock", a cartoon in Town Talk (1858) satirizing the 'monster' joint-stock economy that came into being after the Joint Stock Companies Act 1844 (from Corporation)
Image 2Mexican Stock Exchange in Paseo de la Reforma, Mexico City (from Business)
Image 3Offices in the Los Angeles Downtown Financial District (from Business)
Image 4Plaque in London commemorating Jewish entrepreneur Sir Jack Cohen who in 1919 founded Tesco, the largest supermarket chain in the UK. (from Entrepreneurship)
Image 51/8 share of the Stora Kopparberg mine, dated June 16, 1288 (from Corporation)
Image 6Lindley LJ was the leading expert on partnerships and company law in the Salomon v. Salomon & Co. case. The landmark case confirmed the distinct corporate identity of the company. (from Corporation)
Image 7Emil Jellinek-Mercedes (1853–1918), here at the steering wheel of his Phoenix Double-Phaeton (from Entrepreneurship)
Image 8Student organizers from the Green Club at Newcomb College Institute formed a social entrepreneurship organization in 2010. (from Entrepreneurship)
Image 9Time required to start a business in 2017 (from Business)
Image 10In 2012, Ambassador-at-Large for Global Women's Issues Melanne Verveer greets participants in an African Women's Entrepreneurship Program at the State Department in Washington, D.C. (from Entrepreneurship)
Image 11McDonald's Corporation is one of the most recognizable corporations in the world. (from Corporation)
Image 12Chart of the South Sea Company's stock prices. The rapid inflation of the stock value in the 1710s led to the Bubble Act 1720, which restricted the establishment of companies without a royal charter. (from Corporation)
Image 13Dell Women's Entrepreneur Network event in New York City (from Entrepreneurship)

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More did you know

...that Robert Solow, a Nobel Laureate American economist, was awarded the National Medal of Science in 1989 for "his creation of the modern framework for analyzing the effects of investment and technological progress on economic growth"?